Question No 26 Chapter No 15 – USHA Publication 11 Class

Question No 26 Chapter No 15

Question No 26 Chapter No 15

Dishonour of Bill

26. Sunny drew a 4 months bill on Dharam for Rs 15,000 on 1st March 2017 for goods sold. The bill was duly acceptance by Dharam and returned to Bhat. On the due date, the bill is dishonoured by Dharam
Record the entries in the books of both the parties in the following cases when Rs 200 noting charges are paid in each case.
(a)The bill was retained by Bhat till Maturity
(b)The bill was discounted from State bank for India for Rs 14,400
(c)The bill was endorsed to Hema
(d)The bill was sent to bank collection

The solution of Question No 26 Chapter No 15: –

In the books of Sunny
Date   Particulars
L.F. Debit Credit
2018          
Mar.1 Bill Receivable A/c Dr.   15,000  
  To Dharma A/c       15,000
  (Being bill drawn for 4 months)        
           
(a) Dharma A/c Dr.   15,000  
  To Bill Receivable A/c       15,000
  (Being retained bill dishonoured )        
           
(b) Bank A/c Dr.   14,400  
  Discount A/c Dr.   600  
  To Bill Receivable A/c       15,000
  (Being bill discounted from the bank)        
           
  Dharma A/c Dr.   15,000  
  To Bill Receivable A/c       15,000
  (Being discounted bill dishonoured )        
           
(c) Hema A/c Dr.   15,000  
  To Bill Receivable A/c       15,000
  (Being bill endorsed)        
           
  Dharma A/c Dr.   15,000  
  To Bill Receivable A/c       15,000
  (Being endorsed bill dishonoured )        
           
(d) Bank for collection A/c Dr.   15,000  
  To Bill Receivable A/c       15,000
  (Being bill discounted from the bank)        
           
  Dharam A/c Dr.   15,200  
  To Bill Receivable A/c       15,000
  To Nothing Charges A/c       200
  (Being discounted bill dishonoured )        
         

 

In the books of Dharam
Date   Particulars
L.F. Debit Credit
2018          
Jan.1 Sunny A/c Dr.   15,000  
  To Bill Payable A/c       15,000
  (Being bill payable for 4 months.)        
           
(a) Bill Payable A/c Dr.   15,000  
  To Sunny A/c       15,000
  (Being retained bill dishonoured)        
           
(b) Bill Payable A/c Dr.   15,000  
  To Sunny A/c       15,000
  (Being discounted bill dishonoured)        
           
(c) Bill Payable A/c Dr.   15,000  
  To Sunny A/c       15,000
  (Being endorsed bill dishonoured)        
           
(d) Bill Payable A/c Dr.   15,000  
  Nothing Charges A/c Dr.   200  
  To Sunny A/c       15,000
  (Being bill sent to the bank for collection dishonoured)        
         

 

Bills Receivable Book | Subsidiary Books | Examples

 

Bills Payable Book | Subsidiary Books | Examples

Thanks, Please Like and share with your friends  

Comment if you have any question.

Also, Check out the solved question of all Chapters: –

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Vouchers and transactions

Chapter No. 4 – Journal

Chapter No. 5 – Ledger

Chapter No. 6 – Cash Book

Chapter No. 7 – Other Subsidiary Books

Chapter No. 8 – Journal Proper

Chapter No. 9 – Trial Balance 

Chapter No. 10 – Bank Reconciliation Statement

Chapter No. 11 – Depreciation

Chapter No. 12 – Provisions and Reserves 

Chapter No. 13 – Bills of Exchange

Chapter No. 14 – Rectification of Errors 

Chapter No. 15 – Financial Statements – (Without Adjustments)

Chapter No. 16 – Financial Statements – (With Adjustments)

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.